New Delhi: In a major push to diversify rural incomes and create employment opportunities beyond traditional farming, Finance Minister Nirmala Sitharaman on Sunday announced a series of initiatives for the livestock, fisheries and high-value agriculture sectors while presenting the Budget 2026-27 in Parliament.
Pointing out that livestock contributes close to 16 per cent of farm income, including for poor and marginal households, Sitharaman proposed a loan-linked capital subsidy scheme to scale up the availability of veterinary professionals by more than 20,000.
The scheme will support the establishment of veterinary and private colleges, veterinary hospitals, diagnostic laboratories and breeding facilities in the private sector.
For fisheries, the government will undertake integrated development of 500 reservoirs and Amrit Sarovars and strengthen the value chain in coastal areas, enabling market linkages through startups, women-led groups and Fish Farmers Producer Organisations.
The finance minister announced a credit-linked subsidy programme for animal husbandry entrepreneurship development, alongside scaling up and modernisation of livestock enterprises and creation of livestock, dairy and poultry-focused integrated value chains.
In a significant move for coastal farmers, Sitharaman proposed a coconut promotion scheme aimed at replacing old and non-productive trees with new varieties in major coconut-growing states.
She noted that about 30 million people, including nearly 10 million farmers, depend on coconuts for their livelihood, with India being the world’s largest producer.
A dedicated programme for Indian cashew and cocoa aims to make the country self-reliant in production and processing, enhance export competitiveness and transform them into premium global brands by 2030.
The government will also partner with states to promote sandalwood cultivation and post-harvest processing “to restore the glory of the Indian sandalwood ecosystem”, which is closely linked to India’s social and cultural heritage.
For hilly regions, a dedicated programme will support rejuvenation of old orchards and expansion of high-density cultivation of walnuts, almonds and pine nuts, focusing on value addition through youth engagement.
PTI
